Mr. Mark Griffin:

It is certainly the case that the investor was able to recoup the investment and we needed to come up with a structure that would allow that to happen. Let us return to the invitation to tender. One will see that it included a base rate of 4.2% based on euribor rates at the time. Our concern was that if the invitation to tender had not included a base rate, there would have been no competition. In our view there was a real risk that if one did not provide for some guaranteed rate of return for the tenderers, the existing operator which had assets in place could bid a low management fee and undercut all other bidders and one might not have had a competition. We needed a competition to ensure we would have the most effective outcome in terms of having an emergency call answering system that would deal with what were life saving issues. Fundamentally what happened was that bidders bid for a management fee which was required to operate the service. The bottom line is that the winning bidder, BT, submitted a tender which was significantly lower than the other bids received. Its bid was an order of magnitude lower than the other bids received.